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reform said we can -- we don't have to raise tax rates, we can lower tax rates by capping deducts. he said that. lou: where is coordinated action and rhetoric from the party? i'm talking about from mayors to governors. >> we have been great with policy, but we've been clumsy courtroom communicators. >> boehner will let this backfire, we are higher taxing, no growth, no jobs, fake interest rates, in two years the republican party comes back stronger. >> we're sing is political fear at its best, by being a washington dc insider i belve we can still get a deal, we have two proposal on the table. >> to get to your point, lou, from a conservative perspective, over in 6 was a national suicide. -- november 6 was a national suicide. a very thin find red line, that red line of republican party. if this party also commits suicide, this will be catastrophic. neil: we'll explore further why it is that republicans are having trouble with two areas, one winning elects and the other governing, we'll be back with tha-team, and we'll find out who is in charge o this assault on christmas among other
reform said we can -- we don't have to raise tax rates, we can lower tax rates by capping deducts. he said that. lou: where is coordinated action and rhetoric from the party? i'm talking about from mayors to governors. >> we have been great with policy, but we've been clumsy courtroom communicators. >> boehner will let this backfire, we are higher taxing, no growth, no jobs, fake interest rates, in two years the republican party comes back stronger. >> we're sing is political...
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he will not pay the tax rates. fairness is among the other americans, not him. that's my two cents more. thars all for to be the. thank you for joining us, dvr the show if you can't catch us live. have a great night. we'll see you right back here tomorrow. ♪ lou: the obama administration tonight ramping up diplomatic efforts to end seer -- syria's bloody civil war and the fear assad could use chemical weapons against his own people. the military is prepared to use poisen gas bombs, secretary of hillary clinton flew to dublin to hold a meeting with her russian counter part and u.n. enjoy to syria meeting to discuss how they would end the now 21-month long conflict in syria and how to move assad from power. and there's no sign they had to reverse the support, and today, a senior lawmaker says the syria government is now incapable of functioning properly. just before the meeting with the russian foreign minister, secretary clinton insisted that the united states and russia share common goals in the region. >> trying
he will not pay the tax rates. fairness is among the other americans, not him. that's my two cents more. thars all for to be the. thank you for joining us, dvr the show if you can't catch us live. have a great night. we'll see you right back here tomorrow. ♪ lou: the obama administration tonight ramping up diplomatic efforts to end seer -- syria's bloody civil war and the fear assad could use chemical weapons against his own people. the military is prepared to use poisen gas bombs, secretary...
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two ws and bush tax cuts. melissa: we afree on that. >> bush tax cuts. melissa: we have spent way too . this plan doesn't basically entitlement spending. we don't get our snding, with any ofthese three plans. even going over the cliff we don't get the spendin in order. i will giv you the last word. th we go on. >> the issue with the republicans they're losing is. they're losing the argument, the debate, they're losing everythi. what we need to do is, to respond to the question, what do we do now in three weeks? let's go aheadand give 98% of the american people a tax t. none of us are ignoring the viability and importance of looking at entitlement reform as it relates to savings getting rid of waste fraud and abuse and other aspects. i will not tolerate increase in eligibility or raising the age but what republicans are doing is, they are putting theissue taxes and theye not telling the american people that the enlightment reform and tax reform is ane orissues thatan be discussed in 2013 in deliberative manner liening to you constituents. that is the key.
two ws and bush tax cuts. melissa: we afree on that. >> bush tax cuts. melissa: we have spent way too . this plan doesn't basically entitlement spending. we don't get our snding, with any ofthese three plans. even going over the cliff we don't get the spendin in order. i will giv you the last word. th we go on. >> the issue with the republicans they're losing is. they're losing the argument, the debate, they're losing everythi. what we need to do is, to respond to the question, what...
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among let's put a downpaymmnt on taxes, let's let tax breaks and the upper-income folks go up. lou: president obama is loking to hide even more taxe to find more taxable victms beyond the so-called ich. but there are yet more conditionsas white ouse press secretary jay carney today reminded us. the president emnds any deal is dependent upon a hike in the nation det ceiling. carney says the debt ceiling is another issue the preident simply cannot bring himself to negotiate with those lowly republicans on the hill. and today began a new campaign of blame for the national debt directedat, yes, congress. me. >> your not going to negotiate over what is a fundamental responsibility congress, which is to pay the bills that congress cured. ithould beart of the dal. it should be done, and it should be done without trauma. lou: the president is not alone in demands for non negotiation of vat regions of the federal wastand. me ongressional democrats are also very spcific about hat they refuse to egotiate as well. for example, the conggessional black caucus nnounced that it is strony oppos
among let's put a downpaymmnt on taxes, let's let tax breaks and the upper-income folks go up. lou: president obama is loking to hide even more taxe to find more taxable victms beyond the so-called ich. but there are yet more conditionsas white ouse press secretary jay carney today reminded us. the president emnds any deal is dependent upon a hike in the nation det ceiling. carney says the debt ceiling is another issue the preident simply cannot bring himself to negotiate with those lowly...
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gains tax cut, not from the income-tax increase. lou: you and i have done what the republican, perhaps too often. we talk about the economics of it, the theory of it, if you will, the extraction of it, but but the reality is the republican party has nt come up with a rejoinder, a response to a, if you will, a socialist redistributionist president who right now claims e field is on because the is no other standard flying over that field. there is a speaker of the house to is simply saying, this is not right. you know, we are not at the table and complaining, but not, not engaging. >> i think we have got to engage the argument. we cannot win the argument while acknowledging that an increase in tax rates would increase revenues and all. it will just today the top 1 percent are paying aout 40 percent of the income tax. the top 25 percentare paying 87% of the income tax. it dos not get any better than that. this is under the bush ax rates. you eliminate those tax rates and you will get less revenues, more capitol flight from the united s
gains tax cut, not from the income-tax increase. lou: you and i have done what the republican, perhaps too often. we talk about the economics of it, the theory of it, if you will, the extraction of it, but but the reality is the republican party has nt come up with a rejoinder, a response to a, if you will, a socialist redistributionist president who right now claims e field is on because the is no other standard flying over that field. there is a speaker of the house to is simply saying, this...
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but you don't have to wait for the tax hikes. $317 billion in new taxes. set to kick in january 1st. and we will show you the latest tax increase brought to you by the people who created obamacare . get ready for armageddon. is america reelly headed to help? is there any way to stop the document author of after america, mark stein joins me next. ♪ ♪ lou: welcome all fundamental dishonesty at the heart of america's financial crisis. my next guest saas americans really seems of want a european size government with current american size tax rates. one or the other has got to go. we will see. joining us now, author of the best seller, get ready for armageddon. also, a recording of -- i will explain my laughter. his new holiday cd, making spirits bright available on the amazon and itunes. i am trying to think how to do it. >> the words stuck in your throat. lou: it is terrific. it is wonderful. here to prove the point, and it's ggod to have you. i wish you lots of luck. by the way, s t eyn. that's right. and i got it covered. >> that's right. why do i have
but you don't have to wait for the tax hikes. $317 billion in new taxes. set to kick in january 1st. and we will show you the latest tax increase brought to you by the people who created obamacare . get ready for armageddon. is america reelly headed to help? is there any way to stop the document author of after america, mark stein joins me next. ♪ ♪ lou: welcome all fundamental dishonesty at the heart of america's financial crisis. my next guest saas americans really seems of want a...
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up in the estate tax goes up. basically, we could be looking at a private stimulus package happening. >> you are talking about transferring 25 million-dollar houses from one rich person to another, right? >> you are buying stuff back and forth. the parents to give that to their kids. the estate tax is 35% on everything over $5 million and agosta 55%. anything over $1 million. it is horrible. melissa: dennis needs a break after running the 12 flights of stairs. this time this item is for christmas. this starbucks card will set you back $450. the card itself costs $50, then the card itself is $450 for the gift card. you cannot buy them at the store coming have to give them from gil.com. >> of i spent $450, it will be almost a full pair of christian louis vuitton shoes. i'm not sure they are seen holding this card. >> a person is going to say my gold card -- what happens if you violate 10 cups of coffee, do you geta gold card membership? >> the highest profit margin will be on the copy. how much is that slipups stain
up in the estate tax goes up. basically, we could be looking at a private stimulus package happening. >> you are talking about transferring 25 million-dollar houses from one rich person to another, right? >> you are buying stuff back and forth. the parents to give that to their kids. the estate tax is 35% on everything over $5 million and agosta 55%. anything over $1 million. it is horrible. melissa: dennis needs a break after running the 12 flights of stairs. this time this item is...
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tax dead? we'll see. forbes doesn't think so. there's a news conference along with washington lawmakers to push for the flat tax. he joins us later this hour. liz: first, what drove the marketings for today's data download. stocks ending lower, struggling for direction most of the day, unable to hold gains trading lower. i think it was 79 times. health care and industrials were today's top performing sectors and telecomo lagged. the euro extending the gains versus the dollar, rallying to a near seven week high against the green back after greece announced its debt buy back terms. euro rose to a $1131. that's high historically. action in the metals. silver, platinum, all sinking more than 1%. silver was today's biggest loser dropping nearly p 3% to settle at $32.81 an ounce. david: markets hopping, but the next trader says investor participation is shifting. in chicago, larry, the key question here is what happens when the market gets off its hind legs and moves? move up or down? >> it all depen
tax dead? we'll see. forbes doesn't think so. there's a news conference along with washington lawmakers to push for the flat tax. he joins us later this hour. liz: first, what drove the marketings for today's data download. stocks ending lower, struggling for direction most of the day, unable to hold gains trading lower. i think it was 79 times. health care and industrials were today's top performing sectors and telecomo lagged. the euro extending the gains versus the dollar, rallying to a near...
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the number one thing to understand already even if all the tax cuts were made permanent, tax revenues projected to grow by 6.2% a year. so what they're really debating about how much should it grow even faster than that in order to enable bigger government. 100% of our fiscal problem is on the spending side. obama is being very inflexible on that. republicans i'm afraid will get taken to the cleaners just what happened in 1990 when read my lips. melissa: would you rather we went over the fiscal cliff? >> compared to what obama's talking about, the fiscal cliff might be better because obama not only wants soak the rich tax increases that would automatically happen, he then wants additional taxes on top of that would be very bad for american competitiveness. we don't want to send jobs to china and india but almost as if obama wants to do that. at least if we went over the cliff, we would get the sequester, which is the budget wonk term for automatic reductions in the growth of spending. melissa: absolutely but i'm not sure republicans are giving in as much as you think. if you drill dow
the number one thing to understand already even if all the tax cuts were made permanent, tax revenues projected to grow by 6.2% a year. so what they're really debating about how much should it grow even faster than that in order to enable bigger government. 100% of our fiscal problem is on the spending side. obama is being very inflexible on that. republicans i'm afraid will get taken to the cleaners just what happened in 1990 when read my lips. melissa: would you rather we went over the fiscal...
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lou: $6 billion in taxes? >> spending reductions and tax increases. the economy can't handle that. without a doubt, head into recession if we're over the cliff. lou: now, are you in agreement? >> i am, carl's absolely right, nevertheless, the markets have effectively been yawning. equity markets, go higher, corporate credit market improves, commodit prices rising, and the ten-year treasury yield is dipping to new lows. i can't figure this out. everybody seems to -- lou: i know -- >> they are in a mood, and that worries me. somebody has to be wrong, and big time. >> yawning until they don't. that's the concern. lou: i know this would be stunning and alarming to economists who would never contemplate themselves being wrong on this, but is this some possibility that everyone is wrong about this? that these are actually men and women of good wl in th parties who are beginning to come together in one great warm embrace sometime before christmas day and give the nation such a great boost of spirit of od will and reach agreement here? >> i don't know if we're going to see that sense of br
lou: $6 billion in taxes? >> spending reductions and tax increases. the economy can't handle that. without a doubt, head into recession if we're over the cliff. lou: now, are you in agreement? >> i am, carl's absolely right, nevertheless, the markets have effectively been yawning. equity markets, go higher, corporate credit market improves, commodit prices rising, and the ten-year treasury yield is dipping to new lows. i can't figure this out. everybody seems to -- lou: i know --...
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they know their taxes are going up. they know regulatory expenses are going up and they know if they do make money that will be taxed at a higher rate. a lot of employers are shrugging their shoulders and saying why take the risk. melissa: peter do you agree with that. >> yeah. it is the barack obama efct. only 150,000 a month the man is obsessed what did he say last week campaign, voting is the best revenge. now he is about to take it out on the one or 2%. that is all his focus. he is going around the country, hurricane sandy, rebuilding needs to be done. he is not paying attention to that and certainly not paying attention to jobs creation. instead he is on this vendetta. melissa: ian, at the same time you see companies out there, they're doing what they need to do. we saw ibm for example saying that when it comes to their 401(kk instead of contributing every other pay period the way they have before they will wait until the very end of the year and do their matching then. almost an accounting trick. not really a tric
they know their taxes are going up. they know regulatory expenses are going up and they know if they do make money that will be taxed at a higher rate. a lot of employers are shrugging their shoulders and saying why take the risk. melissa: peter do you agree with that. >> yeah. it is the barack obama efct. only 150,000 a month the man is obsessed what did he say last week campaign, voting is the best revenge. now he is about to take it out on the one or 2%. that is all his focus. he is...
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here iwhat i want in tax increases. by the way i will increase in ending on infrastructure just to show starting from a point where he believes he has real strength and will stick it to the other side. what do you think of the counterproposal from republicans. is it strong or looking weaker? >> with any negotiation with the president's side t especially a few weeks ago, maybe you come out and shoot for the top, knowing you may not meet in the middle. i don't know if they will meet and splithe baby. melissa: right. >> do i think you always know at eventually you will have to rear back a little bit towards the middle. melissa: yeah. >> as far as the republicans counter, i think they're trying to at least in certain, especially with government. there is always posturing, right? melissa: right. >> partly it is posturing hey, we're willing to talk. here's what we're thinking to at least try to jump-start this as the clock continues to kick. melissa: when you look at the nuances what is going on in the media, yesterday everyb
here iwhat i want in tax increases. by the way i will increase in ending on infrastructure just to show starting from a point where he believes he has real strength and will stick it to the other side. what do you think of the counterproposal from republicans. is it strong or looking weaker? >> with any negotiation with the president's side t especially a few weeks ago, maybe you come out and shoot for the top, knowing you may not meet in the middle. i don't know if they will meet and...
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i don't want to see tax rates go up. again, i'm not sitting in the white house, and i'm not sitting in the senate. i'll do everything i can to make sure it doesn't happen. dennis: i'll take that as a no. are the democrats truly willing to let us go over the cliff if the republicans refuse to raise rates on the rich? >> i think there's a constituency on both sides, republican and democrat, that would be willing to see that happen for ideological as well as political reasons. i think we both hope that that does not happen, and i think what he said is correct. the republicans did put forward a plan. it's a reasonable plan, but, look, i got news for you. this is a negotiation. they are not going to get everything they want, the democrats not everything they want. just having a plan on the table and criticizing the other side and walking away doesn't help anybody. dennis: it doesn't. how much of what we watch are just postturing posturing and knowing secretly you'll reach a settlement? >> we understand how important it is tha
i don't want to see tax rates go up. again, i'm not sitting in the white house, and i'm not sitting in the senate. i'll do everything i can to make sure it doesn't happen. dennis: i'll take that as a no. are the democrats truly willing to let us go over the cliff if the republicans refuse to raise rates on the rich? >> i think there's a constituency on both sides, republican and democrat, that would be willing to see that happen for ideological as well as political reasons. i think we...
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tax increases coming next year. we've got two avoidance measures in the news, item one. 200 companies or more will pay dividends this year and that avoids the higher dividend tax next year. two, charities are seeing big increases in contributions now in case the deductions is limited next year. and joining us from the research group, we haven't seen greg since the election. >> i think once, you were out that day, but great to see you stuart. how have you been? >> i'm recovering from the election. >> glad to hear it. what i'm seeing with the dividends, charitable contributions speeding up. people are trying to avoid the tax increases they know are going to hit them next year, the rich avoiding the tax on the rich policy, isn't it? >> well, who can blame them, right? this is a classic example of unintended consequences, when you start talking about raising taxes, people take action to reduce their liability. that's human nature, that's common sense. on this, on the stories you cite, stuart. two quick comments, number
tax increases coming next year. we've got two avoidance measures in the news, item one. 200 companies or more will pay dividends this year and that avoids the higher dividend tax next year. two, charities are seeing big increases in contributions now in case the deductions is limited next year. and joining us from the research group, we haven't seen greg since the election. >> i think once, you were out that day, but great to see you stuart. how have you been? >> i'm recovering from...
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you give a 15% flat tax on income taxed, capital gains, gift tax, to put it across the board and then you will see everybody pay the same rate if you make more you pay more. if you make less, you pay less. the speaker and others keep talking about how we are going after the rich. i will never be there, don't care about defending the rich, want to send a system that lets everybody have that chance. england tried this in 2009, they put a hefty pay income tax on people making more than a million dollars per year. the next year they went to 6000 people. and you lose money com, you dont gain revenue. what happens to the middle class? middle class has to suck up even more tax because you are so stupid in your tax policy you actually thought she would tax rich people, but they move. the middle class cannot move. you have a deduction for one home mortgage interest deduction and for charitable deductions. our party has put charitable deduction restrictions on the table. let me tell you come that would kill charities which plays right into this administration. they want the government to be the
you give a 15% flat tax on income taxed, capital gains, gift tax, to put it across the board and then you will see everybody pay the same rate if you make more you pay more. if you make less, you pay less. the speaker and others keep talking about how we are going after the rich. i will never be there, don't care about defending the rich, want to send a system that lets everybody have that chance. england tried this in 2009, they put a hefty pay income tax on people making more than a million...
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instead of reforming the tax code, the president wants to raise tax rates. even if the president that the tax rate hike that he wanted, understand that we will continue to see trillion dollar deficits for as far as the eye can see. washington has a spending3 problem, not a revenue problem. if the president does not agree with our proposal, i believe he has an obligation to families and small businesses to offer a plan of his own. we are ready and eager to talk to the president about such plan. >> you did speak with the president earlier this week, can you characterize that call. also, it has to be increases in rates for the wealthy or no deal. >> the phone call was pleasant, but more of the same. it is time for the president to be serious and come back with a counter offer. [inaudible question] >> the risk the president wants us to take, increasing tax rates will hit many small businesses that produce 60-70% of the new jobs in our country. that is the whole issue. [inaudible question] >> i think that is reckless talk. [inaudible question] >> listen, raising
instead of reforming the tax code, the president wants to raise tax rates. even if the president that the tax rate hike that he wanted, understand that we will continue to see trillion dollar deficits for as far as the eye can see. washington has a spending3 problem, not a revenue problem. if the president does not agree with our proposal, i believe he has an obligation to families and small businesses to offer a plan of his own. we are ready and eager to talk to the president about such plan....
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>> make any tax increase, rolling back bush tax cuts, for example, conditional upon reaching agreement that stop the debt growing as a percent of gdp. they can't reach the agreement by the end of the year so as a part of this, agree to retroactively roll back bush tax cuts if they reach agreements. >> the democrats thought they did enough deficit cutting. >> not even close. >> right. >> 0%, you need $900 billion of tax increases or spending cuts to stop debt growing as a percent of gdp. on the $900 billion you need, you need more than that. the president, who wants to support his spending, needs enormous tax increases, and public opinion says he can blame tax increases on republicans if he's over the cliff so his threat to go over the cliff, i think, is very credible, and i think the republicans are in a very procare yows negotiating position because if they are blamed for this, they'll loss the house, and if they lose the house, there's enormous damage done to the economy. >> that's all the control they have left. they don't want to lose that in two years. back to the math to dig into
>> make any tax increase, rolling back bush tax cuts, for example, conditional upon reaching agreement that stop the debt growing as a percent of gdp. they can't reach the agreement by the end of the year so as a part of this, agree to retroactively roll back bush tax cuts if they reach agreements. >> the democrats thought they did enough deficit cutting. >> not even close. >> right. >> 0%, you need $900 billion of tax increases or spending cuts to stop debt...
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taxes. because business investment is so stingy right now, this battle is really historic. i think we will see more winners in the states. dagen: right to work states over the last decade have grown faster. >> it is and important component. it will be more so, i think, going forward. the combination, state tax rates in federal tax rates, they are really getting onerous. connell: as peter barnes pointed out, how involved, or will he get involved in this at all going forward? >> well, your guess is as good as mine. here is the thing, you know, of all places that you can go in america, discussing the fiscal cliff, and he ends up in michigan. it is not only about this. you have members of the city council saying the president needs to bail us out. they used that language. i think it is veryytelling where he went today. connell: all right, steve, it is very good to see you. dagen: a new report by the u.s. intelligence reveals china will have the world's largest economy by 2030. the councils globa
taxes. because business investment is so stingy right now, this battle is really historic. i think we will see more winners in the states. dagen: right to work states over the last decade have grown faster. >> it is and important component. it will be more so, i think, going forward. the combination, state tax rates in federal tax rates, they are really getting onerous. connell: as peter barnes pointed out, how involved, or will he get involved in this at all going forward? >> well,...
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with taxes going up, tax-free muni bonds are all the rage. we will have tips on how to find some good ones next. dennis: first, some of today's winners and losers. ♪ [ male announcer ] this is joe woods' rst day of work. and his new boss told him twongs -- cook what you love, and save your money. joe doesn't know it y, but he'll wk his way up from busser to wter to chef before opening a restaurant specializing in fish and me from the great northwest. hel start investing early, he'll find some good people to help guide him, nde'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. dennis: over 100 companies are paying special dividend. this is before the tax rate on dividends could more than double in january. liz macdonald is here. >> already munis has downgraded nearly a third. borrowed money to issue special dividend. in other words, do it before tte end of the year. in fact, half of the deals out there, in october, worked for special dividend. i will tell you so
with taxes going up, tax-free muni bonds are all the rage. we will have tips on how to find some good ones next. dennis: first, some of today's winners and losers. ♪ [ male announcer ] this is joe woods' rst day of work. and his new boss told him twongs -- cook what you love, and save your money. joe doesn't know it y, but he'll wk his way up from busser to wter to chef before opening a restaurant specializing in fish and me from the great northwest. hel start investing early, he'll find some...
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tax rate increase. democrats have said no to that proposal.% in response to that a spokesman for house speaker john boehner saying despite republicans offer to put real revenue on the table the president has offered no concessions whatsoever. when will this willingness to compromise materialize??3 now republicans and democrats say there are no major meetings planned, no summit for democrats and republicans yet to get together and talk on this. the white house says they imagine that there is some e-mail traffic going back and forth but they refuse to tell us when and where they plan on negotiating this. back to you. ashley: i bet the language in the e-mail is pretty interesting too. >> right. ashley: rich edson, thanks so much. tracy: well more companies are accelerating their dividend payments. so we heard from campbell's soup and coach. some of the latest getting cash to shareholders ahead of fiscal cliff. oracle taking it a step further. moving up three dividend payments before the end of the year. fo
tax rate increase. democrats have said no to that proposal.% in response to that a spokesman for house speaker john boehner saying despite republicans offer to put real revenue on the table the president has offered no concessions whatsoever. when will this willingness to compromise materialize??3 now republicans and democrats say there are no major meetings planned, no summit for democrats and republicans yet to get together and talk on this. the white house says they imagine that there is...
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taxes. is anybody listening to this? >> we just put this out. we like to get congress focus on doing the least amount of harm while they raise revenues of some sort. you can do through asset sales, develop kind of things thee3 government owns and does not own. a lot of things in terms of oil leases and about a trillion dollars worth of mineral rights the government can sell off rather than raising taxes. they can equate government workers to pay more towards the health insurance and pensions, that would be a good thing and raise revenues. there are lots of ways to raise revenues without doing harm to the economy. lori: i have got to interrupt you here, why is the president so insistent upon raising tax rates for the wealthy? if you are point we don't necessarily have to do that to get meaningful revenues. melissa: it seems like religious or political on is part. this is a matter of an article of faith on the part of democrats and liberals to get rid of the bush tax cuts for the wealthy. they
taxes. is anybody listening to this? >> we just put this out. we like to get congress focus on doing the least amount of harm while they raise revenues of some sort. you can do through asset sales, develop kind of things thee3 government owns and does not own. a lot of things in terms of oil leases and about a trillion dollars worth of mineral rights the government can sell off rather than raising taxes. they can equate government workers to pay more towards the health insurance and...